PIF’s HUMAIN unveils $10bn Global AI Investment Fund
Saudi Arabia is making a bold leap toward AI dominance. HUMAIN, the Kingdom’s AI startup backed by the Public Investment Fund, plans to launch a $10 billion venture capital fund this summer. According to CEO Tareq Amin, this fund named HUMAIN Ventures will target emerging AI startups across the US, Europe, and select Asian markets. The goal is clear: establish Saudi Arabia as a major player in the global AI ecosystem.
The initiative is part of a broader national strategy, closely aligned with projections from the Saudi Data and Artificial Intelligence Authority. These projections estimate that AI will add $15.6 trillion to the global economy by 2030, while also generating 98 million jobs by 2025. Saudi Arabia intends to capture a significant portion of this growth. As part of its infrastructure plan, HUMAIN aims to develop 1.9 gigawatts of data center capacity by 2030, scaling to 6.6GW just four years later.
In a recent statement, the company emphasized its desire to integrate vertically within the AI space. This includes investing, infrastructure development, and chip design. Notably, few companies outside top US and Chinese tech giants have pursued such an expansive approach. However, the Kingdom is leveraging its financial clout to close the gap quickly.
Strategic Partnerships Drive Rapid Growth
To realize its ambitions, HUMAIN is engaging in talks with major US tech players like OpenAI, xAI, and Andreessen Horowitz. Since launching in early May, HUMAIN has secured $23 billion in deals with Nvidia, AMD, Amazon Web Services, and Qualcomm. The project’s full cost is estimated at $77 billion, and Saudi Arabia is not slowing down.
As part of these developments, a joint venture with AMD will deliver 500MW of data center capacity over five years. In parallel, a $2 billion investment with Qualcomm will establish a chipset design center in Riyadh, employing 500 engineers. Although no chip manufacturing is planned, procurement from US suppliers is set to begin within 30 days. These moves, Amin noted, are part of a deliberate strategy to partner with trusted US firms while avoiding strategic missteps.
Saudi Arabia’s focus on US collaboration also addresses American concerns about technology transfers to China. Despite China being the region’s top trading partner, the Kingdom is aligning its tech ambitions more closely with Washington. This shift coincides with the expected replacement of a Biden-era restriction on AI chip exports to Saudi Arabia, which the Trump administration is likely to revise.
HUMAIN’s Role in Vision 2030 and Global AI Leadership
HUMAIN’s fast-paced expansion reflects Saudi Arabia’s broader Vision 2030 goals. It aims to foster innovation, intellectual property creation, and attract global talent. The first phase of its data center park includes a 50-megawatt facility equipped with 18,000 Nvidia chips, set to go live next year. Eventually, capacity will reach 500MW and require 180,000 chips.
Moreover, HUMAIN expects to train 7 percent of global AI models by 2030. This includes both model development and inferencing capabilities. Amin emphasized the urgency: “You take it slow, or you go fast we’re definitely going fast.”
Addressing data privacy concerns, HUMAIN will offer real-time inventory access, allowing clients to audit data use instantly. New legislation in Riyadh will also require all data centers to comply with clients’ home country laws, enhancing legal and operational transparency.
In summary, HUMAIN is not just an AI company; it is a national instrument to transform Saudi Arabia into a global AI powerhouse. Its strategic investments, international partnerships, and infrastructure plans underscore a determined effort to lead in one of the most critical technologies of the century.
